According to news sources it is expected that the real estate market in Yangon will show a sustainable or moderate growth in 2016. Read on to learn a few challenges faced by Yangon’s real estate market. Visit http://sps-myanmar.com
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An Overview of Yangon’s Real Estate Challenges
1. An Overview of Yangon’s Real Estate
Challenge
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2. “After a pause while investors awaited the outcome
of elections, the property market in Myanmar's
biggest city is picking up again, but some sectors will
do better than others.” – Bangkok Post
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3. Over the past few years, Myanmar has experienced a
dramatic change in economy and political fields. With a
considerable increase in the number of foreign investors
rushing in to Myanmar’s real estate market, office space in
the country's commercial capital is considered one of the
most expensive in the world.
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4. Yangon’s Real Estate Challenge
Skyrocketing land prices, high rental rates and royalties on
ownership title inhibits the growth of Yangon’s real estate
market.
There is an oversupply of properties in the residential sector
given that high-end buyers represent only 1-2% of the total
population.
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5. The passing of the new condominium law which took effect
on Jan 29, 2016 by the Union Parliament will be a hurdle for
some projects under construction doubting whether they will
meet the requirements under the new law.
The new condominium law provides more transparency in the
market and a stronger legal footing.
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6. Making investments in industrial and hospitality sectors
provides good opportunities in the real estate market.
Also, the mixed-use developments that offer retail space,
offices and serviced apartments offer a good opportunity for
investors.
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7. With all these challenges, if developers and investors choose
the right segments of real estate, there are still great
possibilities to succeed. For more information,
visit www.sps-myanmar.com
Call: +95 (0) 9 799 650 076
Email: hugo.slade@sps-myanmar.com
www.sps-myanmar.com